El Paso Corp. reiterates "wash trades" position

In late July, El Paso Corp. announced that in its review to date, it has found no evidence of so-called "round-trip" or "wash" trades in the United States involving the company.

CES buys Enermetrix

CES International, a provider of energy delivery and network management software for distribution utilities, has acquired Enermetrix, a developer of energy software solutions, including a retail energy exchange. The Enermetrix exchange is a real-time transaction-processing environment to buy and sell energy. CES International will operate Enermetrix as a wholly owned subsidiary. Financial terms were not disclosed.

Triple Point rolls out upgrade

Triple Point Technology unveiled Energy Crossroads 3.0, an upgrade to its application service provider acquired earlier this year. Energy Crossroads 3.0 manages the lifecycle of transactions from capture and tagging to ISO scheduling and settlements. The first wave of clients with the new upgrade include Anaheim Public Utilities, cities of Burbank and Pasadena and Energy Atlantic, a retail subsidiary of Central Main Utility.

Duke Energy provides interim update to SEC questions

In late July, Duke Energy provided an interim response to the Securities and Exchange Commission's (SEC) May 31 informal request for information about "round-trip" energy transactions. The company's preliminary report was based on findings to date of a comprehensive review of substantially all trading activities between Jan. 1, 1999 and May 31, 2002. According to the company, Duke Energy has found no evidence of any transactions entered into for the purpose of increasing reported revenues or influencing prices. The review has identified 23 paired transactions which had the apparent purpose of increasing volumes on the Intercontinental Exchange (ICE) electronic trading platform. According to the company, these 23 transactions on ICE had no effect on Duke Energy's earnings.